HC Wainwright Has Optimistic Outlook of NR FY2024 Earnings

Newpark Resources, Inc. (NYSE:NR) – Investment analysts at HC Wainwright boosted their FY2024 earnings per share estimates for shares of Newpark Resources in a note issued to investors on Monday, November 11th. HC Wainwright analyst A. Dayal now forecasts that the oil and gas company will earn $0.42 per share for the year, up from their previous forecast of $0.33. HC Wainwright has a “Buy” rating and a $12.00 price objective on the stock. The consensus estimate for Newpark Resources’ current full-year earnings is $0.32 per share. HC Wainwright also issued estimates for Newpark Resources’ Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at $0.08 EPS, Q4 2025 earnings at $0.09 EPS and FY2025 earnings at $0.34 EPS.

Separately, StockNews.com downgraded Newpark Resources from a “buy” rating to a “hold” rating in a research report on Monday, September 23rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Newpark Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Newpark Resources Stock Up 2.7 %

Shares of NYSE NR opened at $7.45 on Tuesday. The stock has a 50 day moving average price of $7.11 and a 200 day moving average price of $7.59. The firm has a market capitalization of $643.77 million, a price-to-earnings ratio of -3.96 and a beta of 2.87. Newpark Resources has a 52-week low of $5.61 and a 52-week high of $8.65. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.61 and a current ratio of 2.61.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its stake in Newpark Resources by 125.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 764,873 shares of the oil and gas company’s stock valued at $5,301,000 after purchasing an additional 425,505 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Newpark Resources in the 3rd quarter valued at about $195,000. Northeast Financial Group Inc. purchased a new position in shares of Newpark Resources in the 3rd quarter worth approximately $457,000. Empowered Funds LLC raised its stake in shares of Newpark Resources by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 95,600 shares of the oil and gas company’s stock worth $663,000 after acquiring an additional 4,824 shares in the last quarter. Finally, Royce & Associates LP lifted its position in Newpark Resources by 2.9% during the third quarter. Royce & Associates LP now owns 2,191,552 shares of the oil and gas company’s stock valued at $15,187,000 after acquiring an additional 61,128 shares during the last quarter. 80.81% of the stock is owned by institutional investors.

About Newpark Resources

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production (E&P) industry. It operates through two segments, Fluids Systems and Industrial Solutions. The Fluids Systems segment provides drilling, completion, and stimulation fluids products and related technical services to customers primarily in the North America, Europe, the Middle East, and Africa, as well as other countries in the Asia Pacific and Latin America.